Questions May Help Gauge Entrepreneurial Potential

April 12, 1993|By RICHARD HODGETTS, Minding Your Business

Q. I`m interested in starting my own business, but I wonder whether I have the right attitude and disposition to be an entrepreneur. Is there any test I can take to determine how prepared I am to assume this type of role?

A. There is no definitive test that separates those who are going to be successful entrepreneurs from those who are not, but I can give you some insights into this area.

Carefully read each of the following questions and answer yes or no to each. 1. Are you inquisitive, inventive, creative, innovative, and aggressive?

2. Do you enjoy solving problems?

3. Would you rather be your own boss instead of working for someone else?

4. Do you like to make things happen?

5. Do you enjoy taking personal and financial risks?

6. Do you have a high need for achievement?

7. Do you take rejection personally?

8. Do you believe that you can control your own destiny?

9. Are you a consistent goal setter and a result-oriented individual?

10. Are you willing to work longer hours for the same salary you now make?

11. Do you like people?

12. Can you make quick decisions?

13. Do you have a high energy level?

14. Do you believe in your own power to accomplish goals?

15. Are you willing to change your negative habit patterns?

16. Do you have high moral and ethical standards?

17. Can you inspire and motivate other individuals?

18. Do you consider yourself ambitious?

19. Do you enjoy power, control and authority?

20. Are you willing to follow a proven success system even if it differs from your own?

21. Can you accept failure without admitting defeat?

22. Do you know, or are you willing to learn, how to sell?

23. Do you consider yourself enthusiastic, imaginative, and tenacious?

24. Are you dissatisfied with your present employment or school work?

25. Do you know how to tap the power of your subconscious mind?

Review your answer to these questions and give yourself 4 points for every yes answer, except in the case of number 7 where a no reply gets 4 points. If your total was 60 or more, you have potential for becoming an entrepreneur.

No matter what your final score, if you review the questions carefully, you will see that there are a series of characteristics that entrepreneurs have in common:

-- A strong belief in their own abilities and the willingness to make decisions and control events based on these abilities.

-- Willingness to learn new ways of doing things that are more efficient or useful than their current ways.

-- An inquisitive and innovative approach to getting things done.

-- A desire to work for themselves rather than someone else.

-- Enjoyment from solving problems and using creative approaches to accomplishing things.

-- Willingness to take risks that might result in personal or financial setbacks. A seventh is a willingness to admit mistakes but not let these errors get them down.

-- Willingness to work longer and harder for less salary than they are currently getting.

-- The ability to get along well with others, to motivate and lead them, and to inspire them to reach new heights.

-- A high energy level for getting things done.

Simply put, entrepreneurs like to be in charge of things and are willing to pay the price necessary for this. If you think you fit into this category, you should pursue your interest in becoming an entrepreneur.

But keep one point in mind: Many people want to be successful entrepreneurs, but they fail because they are unable to exploit their ideas. If you want to be successful, you need to do something better than the competition.

So continue to ask yourself this question: What product or service can you offer that people would buy from you rather than the competition? What would be different about your offering? What can you do to ensure that the competition would not simply copy your idea?

As you begin to formulate answers to these questions, you will begin the process of moving from potential entrepreneur to hands-on entrepreneur.